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Jointly Estimating the Prices of Environmental Goods: St. Louis as a Case Study

Author

Listed:
  • Katherine Kiel

    () (Department of Economics, College of the Holy Cross)

  • Jennifer Bowen

    (U.S. Environmental Protection Agency)

Abstract

Estimating the benefits of environmental regulations can be very difficult. Since environmental goods are generally not traded in markets, prices and quantities are not directly observed. However, researchers can used revealed preference techniques to uncover the prices individuals implicitly pay for such goods. This paper addresses two interesting questions. It studies the impact of including (or excluding) mulplitle environmental indicators in house value hedonic regressions. It also considers the possibility that environmental indicators are highly correlated with each other (an environmental justice issue) and the effect of that correlation on the estimated coefficients.

Suggested Citation

  • Katherine Kiel & Jennifer Bowen, 2000. "Jointly Estimating the Prices of Environmental Goods: St. Louis as a Case Study," Working Papers 0107, College of the Holy Cross, Department of Economics.
  • Handle: RePEc:hcx:wpaper:0107
    as

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    References listed on IDEAS

    as
    1. Kolleen J. Rask & Kevin N. Rask, 1994. "The pivotal role of services in transitional economies: lessons from the West," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 2(4), pages 467-486, December.
    2. David Burton & Wanda S Tseng & Kalpana Kochhar & Hoe Ee Khor & Dubravko Mihaljek, 1994. "Economic Reform in China; A New Phase," IMF Occasional Papers 114, International Monetary Fund.
    3. Hsiao, William C. L., 1995. "The Chinese health care system: Lessons for other nations," Social Science & Medicine, Elsevier, pages 1047-1055.
    4. Michael W. Bell & Kalpana Kochhar & Hoe Ee Khor, 1993. "China at the Threshold of a Market Economy," IMF Occasional Papers 107, International Monetary Fund.
    5. Zheng, Xiang & Hillier, Sheila, 1995. "The reforms of the Chinese health care system: County level changes: The Jiangxi study," Social Science & Medicine, Elsevier, pages 1057-1064.
    6. Grogan, Colleen M., 1995. "Urban economic reform and access to health care coverage in the People's Republic of China," Social Science & Medicine, Elsevier, pages 1073-1084.
    7. Kolleen J Rask & David K W Chu & Thomas R Gottschang, 1998. "Institutional Change in Transitional Economies: The Case of Accounting in China," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, pages 76-100.
    8. David Chu & Kolleen Rask & Thomas Gottschang, 1998. "Institutional Change in Transitional Economies: The Case of Accounting in China," Working Papers 9804, College of the Holy Cross, Department of Economics.
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    Cited by:

    1. Katherine Kiel, 2006. "Environmental Contamination and House Values," Working Papers 0601, College of the Holy Cross, Department of Economics.

    More about this item

    Keywords

    Envirnoment; housing; amenities; hedonic pricing;

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